Sherman, SD housing market
Home prices around Sherman have risen about 51% over the past 5 years. Builders were permitted 1 new home in 2025.
Home values, sales, trends and how Sherman compares with the towns next door — updated as new data is published.
Home prices up 51% in 5 years
The federal house price index for the ZIP code around Sherman rose 51% over the past 5 years, about the same as across South Dakota. Last year prices rose 12%.
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| Year | Change that year | Since 2000 | South Dakota since 2000 |
|---|---|---|---|
| 2025 | +12% | +194% | +181% |
| 2024 | +6% | +163% | +173% |
| 2023 | −3.7% | +148% | +164% |
| 2022 | +24% | +158% | +145% |
| 2021 | +6.4% | +107% | +109% |
| 2020 | +3.7% | +95% | +88% |
| 2019 | +5.1% | +88% | +83% |
| 2018 | +6.7% | +79% | +75% |
| 2017 | +7.9% | +68% | +67% |
| 2016 | +7.8% | +55% | +59% |
| 2015 | +0.6% | +44% | +52% |
| 2014 | +6.8% | +43% | +47% |
| 2013 | +7.4% | +34% | +42% |
| 2012 | +1.9% | +25% | +38% |
| 2011 | −7% | +23% | +37% |
| 2010 | +0.7% | +32% | +37% |
| 2009 | +0.6% | +31% | +38% |
| 2008 | +2.4% | +30% | +38% |
| 2007 | +0.7% | +27% | +36% |
| 2006 | +5.4% | +26% | +31% |
| 2005 | +6.1% | +20% | +25% |
| 2004 | +7.6% | +13% | +17% |
| 2003 | −0.1% | +4.9% | +11% |
| 2002 | +3% | +5.1% | +7.9% |
| 2001 | +2% | +2% | +4.3% |
| 2000 | — | — | — |
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP code 57030, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost.
1 new home permitted in 2025
Builders were permitted 1 new home in Sherman in 2025. Over the past 10 years, Sherman has permitted 6 homes in all.
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| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 1 | 1 | 0 | $321,000 |
| 2025 | 1 | 1 | 0 | $120,000 |
| 2024 | 2 | 2 | 0 | $641,000 |
| 2023 | 1 | 1 | 0 | $120,000 |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 0 | 0 | 0 | — |
| 2020 | 0 | 0 | 0 | — |
| 2019 | 2 | 2 | 0 | $270,000 |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 0 | 0 | 0 | — |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 1 | 1 | 0 | $40,000 |
| 2009 | 1 | 1 | 0 | $40,000 |
| 2008 | 0 | 0 | 0 | — |
| 2007 | 0 | 0 | 0 | — |
| 2006 | 0 | 0 | 0 | — |
| 2005 | 1 | 1 | 0 | $100,000 |
| 2004 | 1 | 1 | 0 | $100,000 |
| 2003 | 1 | 1 | 0 | $100,000 |
| 2002 | 0 | 0 | 0 | — |
| 2001 | 0 | 0 | 0 | — |
| 2000 | 0 | 0 | 0 | — |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Sherman and its neighbors
| Town | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|
| Sherman | +11.7%† | $970 | 1 | $72,500 |
| Palisade | +11.7%† | $970 | — | $113,958 |
† FHFA price index change, where Zillow has no home value for the town.
A two-bedroom rents for about $970
HUD's Fair Market Rent for a two-bedroom in Sherman is $970 a month, utilities included: roughly what a modest, recently rented unit costs.
Studio $730 · 4 bedrooms $1,630
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (57030; Sioux Falls, SD HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.